FINANCIAL USŁUGI SERVICES FINANSOWE Strengthening through consolidation Ta b l e
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Banks in Poland ................................................122 Brokerage Firms ...............................................124 Debt Collection Companies ................................126 Factoring Companies ........................................128 Pension Funds ..................................................129 Investment Fund Management Companies .........130 Leasing Companies ...........................................131 Insurance Companies ........................................133
SHUTTERSTOCK
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oland’s banks are in healthy shape today. In 2012, they recorded
t r e ś c i
Banki w Polsce .................................................122 Domy maklerskie ..............................................124 Firmy windykacyjne ...........................................126 Firmy faktoringowe ...........................................128 Fundusze emerytalne ........................................129 Towarzystwa funduszy inwestycyjnych ................130 Firmy leasingowe ..............................................131 Towarzystwa ubezpieczeniowe ...........................133
a record-high aggregate net profit of PLN 16.2 billion, a 4 percent year-on-year increase, according to data from the National Bank of Poland. This despite a marked slowdown in the Polish economy, which grew by just 1.9 percent in 2012 compared to 4.5 percent in 2011.
Although the first half of 2013 offered slower growth rates for banks, with aggregate net profit at PLN 8.2 billion, a 0.6 percent increase on the same period in 2012, the figure was still the best result the industry has ever recorded in Poland. According to Deloitte, Poland’s banking sector still has room to increase its market penetration. “Due to the size of its population, Poland is in a league of its own within [Central Europe],” Deloitte’s analysts wrote in a 2013 report that focused on the banking sector in eight Central European countries: Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Serbia and Slovakia. Deloitte described Poland’s banking sector as the biggest in Central Europe, with assets of €314 billion (as of 2011), making up over 35.1 percent of the aggregated assets of banks in the eight countries surveyed. It also stated that the Polish market is far from saturated. “The banking market penetration in Poland has much room for an increase. Of the addressable group, 20.4 million Poles are already customers of at least one bank, so the penetration ratio stands at 67 percent, putting Poland in the middle of the CE countries group analyzed,” wrote Deloitte. According to the advisory, the penetration ratio in Poland will increase in the years to come and will reach 73 percent in 2015, 78 percent in 2020 and 82 percent in 2025, respectively. Consolidations are all the more attractive in Poland as “organic growth rates are in a downward trend which might be accelerated by the looming cyclical slowdown,” the advisory wrote. By consolidating smaller banks, market leaders in Poland’s banking system could realize significant economies of scale and benefit from cost-reductions as a way to offset stagnating revenues and the continued slowdown in most of their domestic countries.
Remi Adekoya
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